Eksons follows Flb up due to good plywood sale when Sabah banned logs export. Hexza is selling lots of resin to both. I know Eksons will go above rm1.00 just like TA. For Insas it should trade above Rm2.00 if not for the ignorant market
Eksons doesn't have much free float, the two directors already own 58%. How much would it take to buy up the remaining 67 million shares of a company that has RM155 million in its bank accounts?
Since beginning of last month TA has been stuck between 0.645 and 0.66. If you have bought Masteel at 0.57, Eksons at 0.67 (after adjusting for 5 sen dividend) and Amprop at 0.67 like I did, you would be making more than holding on to TA.
Because this MGO is conditional, and TA will still be listed in KLSE. Unless TT revise the offer, it is very likely he is not getting 50% before deadline
I think something is wrong with Bursa. Why don't they require all the property counters to revalue their investment properties so that all the investors can know the real value of the shares? Why let them hide the real values? Stupid Bursa.
NOW ASK SSLEE TO COLLECT 10,000 SIGNATORIES AND GO REQUEST BURSA TO MAKE IT COMPULSORY THAT ALL LISTED COMPANIES SHOULD REVALUE ALL ASSETS BEFORE PRIVATISATION IS ALLOWED.
SO MANY WERE ROBBED AND PLUNDERED FOR FAR TOO LONG.
They always say the balance sheet and accounts must show true and fair figures. Without the property revaluations, the balance sheet and accounts are actually "not true" and "not fair". This is against the most basic rule of accounting.
Dear all, I refer: https://www.sc.com.my/wp-content/uploads/eng/html/resources/guidelines/tom/171206/tom_rules_171206.pdf Rule 6.03 Offer Price 1. The offer price in a mandatory take-over offer must not be less than the highest price (excluding stamp duty and commission0 paid or agreed to be paid by the offeror or person acting in concerts for any voting share or voting right to which the take-over offer relates, during the offer period and within six months prior to the beginning of the offer period.
Thus Datuk Chiah is a law abiding citizen and he make an offer price as per SC regulation. As for whether the offer price is fair or reasonable? The SC had the following regulation.
3.06 The board of directors of the offeree shall appoint independent adviser to provide comments, opinions, information and recommendation on a take-over offer in an independent advice circular. The independent adviser shall be responsible for all comments, opinions, information and recommendation disclosed in the independent advice circular. 11.04 Independent advice circular (3) An independent adviser shall include in the independent advice circular all information and statement as required under schedule 2, together with any other information it considers to be relevant to enable the offeree shareholders and holders of convertible securities to reach a properly informed decision on the offer. Schedule 2: Part III 15. Methodologies that are generally appropriate to be considered by the independent adviser include, but are not limited to, the following: a. Discounted cash flow method: b. Price earnings multiple valuation; c. Market value; d. Asset-base approach; and e. Any precedent offers received by the offeree or its subsidiaries The independent adviser should ensure that the choice of methodology is appropriate given the circumstances of the offer.
For the current offer there are only three out-come at the offer closing date; 1. Offer fail: As at the offer closing date, the offeror did not received valid acceptance in respect to the offer shares which would result in the offeror together with such TAE shares that are already acquired more than 50% of the voting share or voting rights. Accordingly, the Offeror shall return all the TAE share which have been transferred into the CDS account of the offeror to the respective holders who have accepted the offer within fourteen (14) days from the Closing Date. 2. Offer success: As at the offer closing date, the offeror had received valid acceptance in respect to the offer shares which result in the offeror together with such TAE shares that are already acquired more than 50% of the voting share or voting rights. Accordingly, the Offeror shall effected settlement via the remittance in the form of cheque, banker’s draft or cashier’s order which will be posted by mail to the respective holders who have accepted the offer within fourteen (10) days from the Closing Date. 3. Compulsory Acquisition: As at the offer closing date, the offeror had received valid acceptance in respect to the offer shares which result in the offeror together with such TAE shares that are already acquired more than 90% of the voting share or voting rights. Accordingly, the Offeror shall within 4 months of the date of the take-over, acquire the remaining shares in the offeree, by issuing a notice in the form or manner specified by the SC to such effect, to all who have not accept the offer(“Dissenting Shareholders)
Thank you PS: Malaysia has rules of law but unfortunately many of these rules and institutions had been compromised by the previous corrupt BN government. Now we have New PH government thus institutional reformed is the most critical to ensure that no institute and law is abused or misused again. Let rule of law prevail.
firewall9301 Share issued : 1,720,000,000 (1.72b) . Dtk Tiah holds 611,556,200 as at 21/8/2018. Equal 35.5555% . To make it 50% or more .....860,000,000-611,556,200=248,443,800. Closing Date : 12 Sept 2018. Meaning 12 more trading days before dead line. Approx 20.6 M shares per trading day need to be purchased by Dtk T. Cheers
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
TheContrarian
9,295 posts
Posted by TheContrarian > 2018-08-21 20:39 | Report Abuse
Insas not likely because Thong doesn't have enough money to do an MGO.